The United States is close to becoming the world's largest oil producer, a position traditionally held by Saudi Arabia in dispute with Russia.
According to the latest forecasts of the International Energy Agency, the US production will reach this year the record figure of 10 million barrels of crude oil per day.
Thus, it is estimated that the US power will overtake Saudi Arabia this year from the leadership position it holds with 13.5% of world production.
His push, encouraged by support for exports from the Donald Trump government.
Beyond the oil market, the US advance will also have geopolitical and economic repercussions in different areas of the planet.
We present five consequences derived from the United States becoming the largest oil producer in the world:
The end of the price war of Saudi Arabia and OPEP
Venezuela, with less market and less supply in the streets. The effects of the new panorama will also be felt in Latin America. The great regional oil giant, Venezuela, will see its battered economy even more punished.
Possible threats to the environment. There have been environmental groups that have warned that the fracking facility policy followed by the Donald Trump government poses a threat to the environment.
More independence for the United States in the Middle East. Now that it has its guaranteed oil supply, the United States can free itself from its traditional dependence on supplying Middle East export foci.
More strength for European countries against Russia. The step forward of the American giant also affects Europe, one of the areas traditionally more dependent on the energy produced by Russia. In the past, Moscow has used the power supply as a pressure tool. On several occasions it interrupted the supply of gas to Ukraine and other Eastern European countries a few weeks from the beginning of winter.
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